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Why Trump’s Next Fed Chair Transition Could Be Completely Different | WSJ

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July 14, 2025

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President Donald Trump has signaled he’s already looking to replace Federal Reserve Chair Jerome Powell far earlier than usual. Here’s how a so-called ‘shadow’ Fed would work, and what it means for markets and consumers.

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Why Trump’s Next Fed Chair Transition Could Be Completely Different | WSJ · The Wall Street Journal · Sentinel